Conveyancing Process - Seller
In the event that you require any additional information or clarification from ourselves, please do not hesitate to contact a member of our team.
There are 3 stages involved in buying or selling a property: agreeing the sale; exchanging of contracts; and completion. At each stage both buyer's and seller's solicitors have specific tasks to carry out.
Stage 1: Agree the sale.
The seller's solicitor will: apply for both the seller's title deeds and land registry; ask the seller to complete a property information and fixture, fittings and contents form; prepares and sends a contract to the buyer's solicitor; and negotiate a completion date.
Stage 2: Exchange of Contracts.
After this stage the contract becomes legally binding, i.e the buyer must buy and the seller must sell. The seller's solicitor will: confirm the completion date; obtain a settlement figure from the lender; receive the buyer's deposit; and approves the transfer deeds, obtaining the seller's signature.
Stage 3: Completion.
The seller's solicitor will: receive the balance of the purchase price; pay off the balance of the mortgage; forward the deeds to the buyer's solicitor; and either send the balance to the seller or use it to purchase another property.
In the event that you require any additional information or clarification from ourselves, please do not hesitate to contact a member of our New Business Team
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